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Chinese Communist Party papers start the millennium with ads

Published on December 09, 1999.

market economy, the Chinese Communist Party auctioned off advertising space in the Jan. 1 editions on the front pages of several of its newspapers. The entire front page of the Jan. 1 edition of Hong Kong-based Wen Wei Po has been auctioned off as an advertisement for $118,072 to a Hong Kong-based shipping company.

Ad space in the People's Daily, Chinese Business Times and other major newspapers from the Chinese mainland, Hong Kong and Macao were also sold at the special auction in Beijing, held by the Guardian Auction Firm. Prices ranged from $42,170 to $60,241. This was the first time many of the newspapers sold advertising space on their front pages.